Gather all ingredients.

To make the cream cheese icing: Beat confectioners' sugar, cream cheese, and 1 teaspoon vanilla together in a large bowl with an electric mixer until smooth. Thin with 1 tablespoon milk to achieve a pourable consistency. Set glaze aside.

To make the pancakes: Whisk flour, white sugar, cocoa powder, baking powder, and salt in a mixing bowl until evenly blended; set aside.

Beat eggs in a separate mixing bowl until smooth. Whisk in buttermilk, 1/4 cup milk, food coloring, vinegar, and remaining 1 teaspoon vanilla.

Stir in flour mixture until moistened. Drizzle in melted butter; stir until incorporated and small lumps of flour remain.

Heat a lightly greased griddle over medium-high heat. Drop batter by large spoonfuls onto the hot griddle. Cook until bubbles form and the edges are dry. Flip and continue cooking until browned on the other side. Repeat with remaining batter.

Drizzle pancakes with cream cheese glaze to serve.